Freddy started it but subsequent management continued with his culture, and worse. It is estimated that RBS may fail in the next couple of years. It is the worst performer regarding stress tests.

They announced today another 9 branches closing in Edinburgh.

When you dig deeper Gordon Brown and the Bank of England were contributory factors that led to its demise.

Yalimart, you should read shredded by Ian fraser.

Gordon Brown wasnt a bondholder the BOE may have been as were some of the institutions mentioned in the article, Im interested to know who the private bondholders were, because their investments in the banks was what the bailouts wre for, they couldnt lose.

The Financial Services Compensation Scheme (FSCS) is NOT, repeat NOT, funded by the taxpayer.
It is funded by an annual levy on ALL registered financial advisors which causes huge resentment, as the vast majority of advisors have nothing to do with banks' dodgy dealings but are expected to cough up for their shortcomings.
The levy has already been increased this year by an additional £10m from £80m collected at the start of the year. The compensation scheme covers losses from bad advice/criminal acts/negligence for up to £50k per person, and up to £85k per person where a bank or other deposit taker goes bust and cannot meet it's obligations.

The Financial Services Compensation Scheme (FSCS) is NOT, repeat NOT, funded by the taxpayer.
It is funded by an annual levy on ALL registered financial advisors which causes huge resentment, as the vast majority of advisors have nothing to do with banks' dodgy dealings but are expected to cough up for their shortcomings.
The levy has already been increased this year by an additional £10m from £80m collected at the start of the year. The compensation scheme covers losses from bad advice/criminal acts/negligence for up to £50k per person, and up to £85k per person where a bank or other deposit taker goes bust and cannot meet it's obligations.

Of course but that's nothing to do with bailing the banks out with tax payers money to satisfy the bond holders, we only know of the institutional bond holders and not the privateers who took a safe punt. I just want to know where my austerity £s went and who to.